Desjardins Global Asset Management Inc. Trims Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Desjardins Global Asset Management Inc. reduced its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 895 shares of the industrial products company’s stock after selling 143 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Roper Technologies were worth $488,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of Roper Technologies by 68,873.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,724,328 shares of the industrial products company’s stock worth $745,065,000 after buying an additional 1,721,828 shares during the period. Norges Bank purchased a new stake in Roper Technologies during the 4th quarter valued at about $497,958,000. CI Private Wealth LLC purchased a new stake in Roper Technologies during the 4th quarter valued at about $245,541,000. Durable Capital Partners LP lifted its stake in Roper Technologies by 51.3% during the 1st quarter. Durable Capital Partners LP now owns 1,395,525 shares of the industrial products company’s stock valued at $659,009,000 after acquiring an additional 473,168 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Roper Technologies by 45.6% during the 4th quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock valued at $488,968,000 after acquiring an additional 280,873 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. TD Cowen lowered shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 target price for the company. in a report on Thursday, January 4th. Wells Fargo & Company lifted their target price on Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Oppenheimer lifted their target price on Roper Technologies from $580.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Raymond James lifted their target price on Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $574.58.

Insider Transactions at Roper Technologies

In other news, Director Christopher Wright sold 200 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $549.71, for a total transaction of $109,942.00. Following the sale, the director now owns 35,547 shares in the company, valued at $19,540,541.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.94% of the company’s stock.

Roper Technologies Price Performance

ROP opened at $526.47 on Thursday. The business’s 50-day moving average is $546.31 and its two-hundred day moving average is $531.43. Roper Technologies, Inc. has a 1 year low of $430.03 and a 1 year high of $565.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.50 and a quick ratio of 0.46. The firm has a market capitalization of $56.34 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.99.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.34 by $0.03. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $3.92 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Research analysts anticipate that Roper Technologies, Inc. will post 18.07 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Friday, April 5th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.57%. Roper Technologies’s payout ratio is 23.27%.

About Roper Technologies

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.